Franklin Electric Co. (FELE) VP Steven William Aikman Sells 5,700 Shares of Stock
Franklin Electric Co. (NASDAQ:FELE) VP Steven William Aikman sold 5,700 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $41.63, for a total value of $237,291.00. Following the sale, the vice president now directly owns 19,613 shares of the company’s stock, valued at approximately $816,489.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Franklin Electric Co. (NASDAQ:FELE) opened at 41.85 on Tuesday. Franklin Electric Co. has a 52 week low of $23.75 and a 52 week high of $43.00. The stock has a 50 day moving average price of $38.51 and a 200-day moving average price of $36.41. The firm has a market capitalization of $1.94 billion, a PE ratio of 26.01 and a beta of 1.48.
Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Franklin Electric had a return on equity of 13.01% and a net margin of 8.31%. The business had revenue of $239.80 million for the quarter, compared to analysts’ expectations of $244.09 million. During the same period in the prior year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Franklin Electric Co. will post $1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Tuesday, November 1st. Franklin Electric’s dividend payout ratio is presently 24.84%.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Franklin Electric by 2.2% in the first quarter. State Street Corp now owns 889,243 shares of the company’s stock worth $28,601,000 after buying an additional 19,335 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Franklin Electric by 3.9% in the first quarter. Teachers Advisors Inc. now owns 71,626 shares of the company’s stock worth $2,304,000 after buying an additional 2,656 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Franklin Electric by 1.3% in the second quarter. Capstone Asset Management Co. now owns 11,845 shares of the company’s stock worth $391,000 after buying an additional 150 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Franklin Electric by 26.0% in the second quarter. New York State Teachers Retirement System now owns 29,530 shares of the company’s stock worth $976,000 after buying an additional 6,100 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Franklin Electric by 12.9% in the first quarter. BlackRock Inc. now owns 17,613 shares of the company’s stock worth $568,000 after buying an additional 2,013 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.00.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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